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What happens to bank accounts when leaving the UK?

What happens to bank accounts when leaving the UK?

Old Sep 4th 2020, 4:47 pm
  #16  
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Default Re: What happens to bank accounts when leaving the UK?

Originally Posted by bev12bev View Post
I have a problem, living in Netherlands, have a Lloyds bank acct in UK, just received letter stating they are closing all accounts for people who live outside UK. Anyone know of a bank account i can get where my flat in UK, rental payments can be paid into, looked into off shore accounts but i don't have loads of money

Are there any online only ones for us expats to have, that accept money from UK and i can transfer over to my Dutch bank? Or any sites i can look at? or ask?
Thanks
As mentioned earlier in this thread, I live in France and my current a/c with Lloyds was converted long ago into an offshore account, which used to be on the Isle of Man and is now in Andover. I haven't received any such info (yet?)...
If you have a Dutch bank a/c, why not arrange for your rental payments to be paid into it directly?
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Old Sep 26th 2020, 10:24 am
  #17  
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Default Re: What happens to bank accounts when leaving the UK?

Nationwide have a bank account for non residents. To set it up you have visit a branch in person to verify your ID.
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Old Sep 26th 2020, 10:40 am
  #18  
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Default Re: What happens to bank accounts when leaving the UK?

There are a number of threads on this very subject started in light of current banking situations which is seeing many of the banks closing accounts of non UK residents because of changes caused by the transition period ending and no other arrangements made by the government.
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Old Sep 27th 2020, 4:23 pm
  #19  
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Default Re: What happens to bank accounts when leaving the UK?

Originally Posted by mikelincs View Post
There are a number of threads on this very subject started in light of current banking situations which is seeing many of the banks closing accounts of non UK residents because of changes caused by the transition period ending and no other arrangements made by the government.
i can't help feeling that a lot of the current situation, UK banks closing non UK resident accounts is driven more by profitability than other motives. The key "villians" seem to be Lloyds and Barclays both of which withdrew from European operations several years ago . I was a Barclays customer at the time they were swallowed up by La Caixa . It was a painless process . From what has been published in the press and various forums I have the impression the accounts that are being cut off tend be ones with a low level of utilisation , the Brexit arguement is a smokescreen.
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Old Dec 5th 2020, 4:03 pm
  #20  
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Default Re: What happens to bank accounts when leaving the UK?

Originally Posted by Cynic View Post
This link was part of my investigation; my daughter was allowed to keep her account at HSBC because of this, but that was before Brexit.

The thing is that HSBC is one of the few banks which has applied for some kind of license to keep former British / UK resident customers who have moved to / changed their address to mainland Europe. Some British banks don't have this license. How this will work out for other customers of UK banks post Brexit who moved to the mainland, no idea? The rule / regulation / law is still that one has to be present in the UK and supply a UK address when opening an account, which might not be practical for one who just moved to the mainland....
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Old Dec 5th 2020, 8:19 pm
  #21  
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Default Re: What happens to bank accounts when leaving the UK?

Originally Posted by Loafing Along View Post
Have a look at the Transferwise account and debit card . They give you a normal bank account in Belgium with full IBAN etc which can accept various currencies. Almost instanteous deposit and easy to transfer out of or shop with its debit card
Transferwise quite useful as it can provide bank accounts in various countries including usa and uk, and with the debit card be used everywhere, and one can hold various currencies even for countries where they don't offer bank accounts. i dont know whether good to leave too large amount on deposit
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Old Dec 7th 2020, 6:32 pm
  #22  
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Default Re: What happens to bank accounts when leaving the UK?

The press reporting today that Nationwide also cancelling accounts for Uk citizens resident in some EU countries
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Old Dec 7th 2020, 6:45 pm
  #23  
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Default Re: What happens to bank accounts when leaving the UK?

Originally Posted by Loafing Along View Post
The press reporting today that Nationwide also cancelling accounts for Uk citizens resident in some EU countries
Yes they cancelled mine.
The Daily Telegraph seems quite upset about it.
https://archive.is/Z50CF

Last edited by philat98; Dec 7th 2020 at 6:58 pm.
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